In 2005, Peter Thiel paid $500,000 for a 10% stake in Facebook. Today, with Facebook’s estimated value topping $33 billion, his stake is worth between $2-3 billion. That’s a 6,000x return on his capital in 5 years. I’ll put it this way–if you made a $250 IRA contribution in 2005, it would have to be … Continue reading Did Peter Thiel Make The Single Best Investment In History?
Technology critics like Nicholas Carr often complain that the Internet is hampering our ability to think. Facebook, and even more so Twitter, exemplify this trend. Back during the ancient days of my youth, when dinosaurs roamed the planet, and shortly after fire was invented, I would communicate with my Stanford friends over the summer by … Continue reading Focus and Serendipity: You Need Both
There’s a fascinating post (with hundreds of comments) up at Scienceblogs.com. Mark Chu-Carroll, a Ph.D. who works at Google, writes extensively and passionately about why he’s not attending his 25th high school reunion. Now it’s twenty five years since I got out of that miserable fucking hell-hole. And people from my high school class are … Continue reading Will Facebook Destroy The High School Reunion?
Fake Steve Jobs nails it again when discussing Facebook’s valuation, in light of the new finding that the Web site is largely devoted to wasting time: “Kids, let’s face it. Facebook is Webkinz for adults. Facebook is a Ponzi scheme. A handful of VCs have created the illusion of an actual market by funding apps … Continue reading Whither Facebook?